Here's what Steve Strazza said in a recent Strazza Letter:
...is this blowout downside momentum signaling the end of an old downtrend… or the beginning of a new one?
I think it's pretty obvious we’re looking at exhaustion here.
It simply can’t be the initiation of a new downtrend. XLV/SPY has been moving in a straight line lower for the last two and a half years. It’s already in a downtrend!
So I’ve been picking my spots and buying large-cap healthcare stocks in the long-term account... preparing for a sustained rotation.
He then went on to share a number of names he likes to participate. One of them looks to me like its more ready than the others to lead the way, so I'm getting in today.
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